Income tax: deductions for interest following the Steele decision

Notice of Withdrawal

Taxation Ruling TR 2000/17 is withdrawn with effect from today.

1. The Commissioner's view on the implications of the High Court decision in Steele v. FC of T 99 ATC 4242; (1999) 41 ATR 139 (Steele's case) was previously published in Taxation Ruling TR 2000/17 (as amended on 5 June 2002). Steele's case concerns, among other things, the deductibility of interest on money borrowed to purchase land intended to be developed. The case involves claims for interest incurred in periods before relevant assessable income was derived.

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